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, prepare for merger. a deal takes off between u.s. airways and american. what it means for consumers. troubled waters: insights on cruise stocks following carnival's rocky week. plus, does apple have a trick up its sleeve? traders give us their takes on wristwatch rumors. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, february 15th. i'm angela miles. in today's first look: stocks stay stuck. stocks and comodities barely budged yesterday. a cross-current of postive news on jobs and m&a deals in the u.s. offset negative economic data out of europe, which held the market in check. shares of herblife soared 15% after hours on word carl ichan bought 14 million shares of the nutrition company. and tiffany is suing costco. tiffany claims the club chain is selling engagement rings bearing the tiffany name. traders will enjoy a long holiday weekend. with presidents' day coming up on monday, the markets will be closed. mark sebastian of option pit mentoring joins us on this friday for a closer look a
display ads on yahoo sites. the wall street journal reports american airlines and u.s. airways may announce a merger in a week or so. shares of u.s. airways flew higher. and let it snow! ski resort owners in the northeast are thrilled a foot of snow could drop by friday, making for a powder-packed weekend. mark sebastian of option pit mentoring joins us now for a closer look at the market. good morning to you. do you suspect with the strength that we have had in this market, that some people are going to want to take profits here mark? > > you know, maybe, but i wouldn't. i think we are due for a breather here at this 14,000 level in the dow. but there are going to be a lot of investors that see this train that has already left the station and want to get onboard. i think we are going to see an all-time high in the dow in the next 30 to 60 days. > wow. let's do some bonding: what do you think about the bond market? is this the time to buy there? > > for a short-term trader, yes. i think we have hit a near- term low. but over the long haul, rates are still really low historically.
do you think about germany? > > you know, europe good is good for the u.s. that has been kind of the big laggard on, i think, the global economy. so if europe gets its act together, i think the s&ps go to the moon. > what would you buy right now then, just an s&p index? > > yeah, i would be looking at spiders or an s&p future, or call options on the s&p futures with the vix so low. > you are definitely a bull in this market. > > absolutely. > would you buy any stocks related to germany? > > you know, maybe. i think i would still like to stick to core u.s., because u.s. continues to lead the overall world. > mark, great to have you on the show. we will see you in a bit. > > thanks for having me. president obama turns up the heat on members of congress to avoid automatic cuts to federal funding that could start by the end of next week. the deadline was created to help settle the debt ceiling crisis in 2011. but as our cover story explains, so far, sequestration has become another term for a stalemate. standing among first-responders who'd face cutbacks statrting march first, pre
a slew of cyber attacks on the u.s. means for americans and the web. plus, a look at the books. are wal-mart's numbers signaling trouble ahead? and, trading strategies in gold, coca-cola and herbalife from our team of traders. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, february 22nd. i'm angela miles. in today's first look: selling continues in the market. stocks and commodities fell yesterday on distressing economic news, including a rise in unemployment claims. but it was the vix that made the day's biggest headline. the gauge of anxiety in the market jumped the most since 2011 this week. investors are becoming concerned about the march 1st deadline for sequestration even though traders tell us a deal is likely to happen. earnings after the close came in from hewlett packard. aig turned in a loss due to superstorm sandy. hpq shares shot up 6% last night on better-than-expected news. and today, the midwest is digging out from winter weather as the northeast prepares for the next round.
's parent company, amr, and u.s. airways are scheduled for a separate meeting today to talk about a merger. larry shover of sfg alternatives joins us now for some trader talk this morning. good to have you on the show post the president's speech last night. how much will it mean to the markets today? > > you know, it was a really great speech last night, but i think a lot of that was priced into the market, because president obama did lay out his proposals and his plan quite a while ago, and there really was nothing material that changed from what he had spoken about even a couple months ago. > the market seemed to be a little concerned about some statements out of the g-7. how is that playing out? > > it is funny, the market is concerned, but i think they are more concerned with the g20 that is coming up on friday. right now we are just stuck in a micro-range right now, because people don't know what to make of it. there are so many headlines coming out of europe. i don't think people know what end is up right now. > here is a big headline: opec is talking about all the demand out there f
and truck sales in the u.s. could be better than last year's numbers, and those were the highest in five years. last year, we spent a lot of time talking about evs - electric vehicles, hybrids and plug-ins. analysts say the buzz is a little less because those cars have become a part of the line-up. but fear of being stranded somewhere with no place to plug in is still a concern for consumers. the ntsb is out with its findings about boeing's battery trouble aboard its dreamliner. safety investigators are linking the fire to a short-circuit in a lithium ion battery. the battery caught fire aboard a boeing 787 parked in boston. it's still not clear what sparked the flame, and figuring out could take weeks. investigators are checking into the charge going into the battery as well as the design of the battery. internal emails may expose more about jp morgan's bad home loans. dexia, a belgian-french bank and an investor in jp morgan securities, filed the lawsuit accusing the bank of hiding or adjusting reviews of bad mortgage deals. internal correspondence showed that jp morgan bundled the mor
contracts depend on the u.s. ag department's inspections. meanwhile, gop lawmakers characterize tax increases as a "nonstarter" to the debate. lawyers gather today in new orleans for the civil trial against b-p. it's been just about 3 years since the explosion aboard the deepwater horizon rig-- that sent oil spewing for months into the gulf of mexico. billions of dollars are on the line for businesses and residents affected by the spill along the gulf coast. "this is a great opportunity for the obama administration to hold bp accountable for the problems that it is causing today and the additional problems that will reveal themselves over the coming decade. we know bp can afford it it and it's just going to hold them accountable and do justice for the people and wildlife of the gulf of mexico." b-p faces a penalty of more than $21-billion dollars for the equivalent of nearly five million barrels of oil spilled. an attorney tell us bp is likely looking for a reduced penalty. "they always ended up starting off with huge numbers and then went down from there...so bp is gambling that hi
. our cover story takes a look at the government's case and where it may lead. u.s. attorney general eric holder says the case goes to the very heart of the recent financial crisis. in a civil lawsuit, he accuses standard and poor's ratings services and its parent company mcgraw hill of downplaying and disregarding the true extent of subprime mortgage risk so large investment banks could sell them to unsuspecting buyers. "s&p misled investors, including many federally-insured financial institutions, causing them to lose billions of dollars." s&p calls the lawsuit "meritless," adding, "claims that we deliberately kept ratings high when we knew they should be lower are simply not true." attorney hugh totten thinks the government's efforts are misguided. "the ratings companies are not the primary sellers of these collateralized debt obligations. these guys just rated these things." s&p ratings are considered reliable opinions in a field where the number of competitors is limited. yet s&p says its ratings weren't much different from theirs. but the justice department alleges that s&p's h
american airlines and u.s. airways. the boards of both of those carriers may also vote on merger today. the marriage of the two airlines means less competition between major carriers, following mergers between u.s. airways and america west, delta and northwest, contiinental and united, and southwest and airtran. "well, it's the business travelers who are the most nervous here. on the liesure end there's some much diversion to discount airlines. but you take places like philly, new york out east, there's a lot of concentration there and there could a few effects." that was depaul economics professor joe schwieterman. he does not foresee regulatory obstacles for amr and u.s. airways to merge. boeing is giving its customers a heads-up that dreamliner arrivals will likely be delayed. manufacturing on the troubled aircrafts will continue, but boeing has said deliveries that were expected in the near future are either delayed or at risk of being delayed. some carriers such as norwegian air are giving customers the option of changing flights to later dates. the dreamliner has been grounded si
to haunt standard and poors. the u.s. justice department plans to file charges against s&p for ratings assigned to mortgage bonds before the 2008 financial crisis. that agency - and others - slapped high ratings on mortgage securities that eventually led to financial collapse. it's the first federal action that's been taken against a ratings agency for behavior stemming from the housing crisis. s&p says "the lawsuit would be without factual or legal merit." higher prices at the gas pump trickled into consumers' spending by the most in 3 decades. gas prices are breaking records this february with an average cost of $3.50 per gallon. that as the energy information administration reports u.s. households spent an average of nearly $3,000 putting gas in their tanks in 2012, the most money since the early eighties. it's testy times in our nation's capital. president obama failed to submit a budget plan, and republican house speaker john boehner is calling him out on the missed deadline. "this was supposed to be the day he submitted his budget to the congress. but it's not coming. it's going
groups says gene splicing will hurt the industry. more u.s. workers are saying "i quit." about 53% of workers who left their jobs in december of 2012 did so voluntarily, and not due to layoffs or firing. that's up from about 37% in 2009, according to the u.s. department of labor. analysts say it signals faith in the economy. still to come, the hunt for the hot idea. why venture capitalists are ramping up the search for the next big thing. that's later. but first, why farmers are bracing for higher expenses in 2013. that's next with bill moller. some quiet but very important changes are taking place down on the farm these days. they're prompted by the sky-high land prices that we have seen for the past few years, but also by new technologies and greater efficiencies. these changes are outlined in a report from the federal reserve bank of chicago. david oppedahl is the business economist who compiled the data. why don't you first talk, david, in general terms about these changes and trends? > > agriculture is seeing a lot of activity in the last few years as some of the commodity pr
in the u.s., quotes were double those from china, where 99% of u.s.-sold bicycles are made. > >after spending a considerable amount of time doing market research on the current coaster, kerr has some advice for other entrepreneurs as they venture into making their products thrive. "i think you gotta keep the dream. you gotta really remember what your vision is and be willing to adjust your vision as you learn more about your market, because it may not be what you thought in the first place." reporting for first business news, i'm ky sisson. for more information on the current coaster, check out: www.ridecurrent.com. coming up next, movies and money. why one film studio should be afraid at the box office, very afraid. the box office will be filled with fantasies for the next couple of weeks. erik childress, our movie guy, is here to explain that. good to have you back. > > thank you. > first off, "jack the giant slayer." this is a huge fantasy film. what do you expect? > > i expect warner brothers is going to be sweating a little this weekend. > why so? > > one, they are not having a
. the u.s. justice department wants to stop a $20-billion merger between anheuser busch in-bev and grupo modelo sab. the merge would make prices pop and the u.s. beer market less competitive, according to the department of justice. ab in-bev already owns a 50% stake in modelo, which makes corona extra, modelo especial and pacifico. the maker of budweiser products plans to fight the doj's decision, but says the deal is off for now. constellation brands also had a side deal as part of the takeover. we'll have more on that stock later in chart talk. japan's largest airline is doing the math on its dreamliner losses. japanese airline all nippon airways, or ana, says it has taken a $15-million revenue loss following the grounding of 787s. 459 of ana's flights were cancelled as investigators look for clues into what sparked fire and smoke onboard dreamliners. ana plans to seek damages from boeing, but says it doesn't expect the problems to last long. analysts say it could be the richest ipo since facebook: pfizer is spinning off its animal health unit zoetis. zoetis sold 86.1 million shares pr
replaces tim geithner. italy's elections for prime minister contributed to market moves in the u.s. the stock market was shaken by yesterday's news from italy that italian democratic leader pier luigi bersani shot ahead in exit polls. bersani's party opposes austerity measures, which brought fear back into the minds of u.s. investors, many concerned that italy's current debt load poses a threat to the eurozone and global economy. bersani is the secretary of the democratic party of italy. italy's outgoing prime minister, mario monti, accounted for just around 10% of the vote. "bp was blinded by greed" and the castrophe was preventable. that's what attorneys figthing against the company had to say opening their remarks in the bp trial. bp attorneys contend multiple parties are responsible. the oil giant is on trial for thde explosion in the gulf of mexico back on april of 2010. 11 workers were killed and oil gushed into into the ocean for 3 months. behind the scenes, the department of jusitice reportedly has a $16- billion deal on the table. $6 billion would settle the clean water a
." a vote on lew's confirmation is expected toward the end of the month. the u.s. postmaster general is now pleading with congress to take steps that will stablize the struggling postal service. "we need your help to pass legislation that allows for more revenue generation and efficient, effective cost control and fundamental changes to our business model." u.s. postmaster general patrick donahoe made that argument at a hearing wednesday on capitol hill. donahoe wants congress to lift the law requiring the postal service to "pre-fund" 75 years of benefits for retirees. the agency racked up $1.1 billion in the past year, partly because of employee benefits. donohoe wants to use a new business model that could save up to $7 billion by 2016. but senator jon tester of montana is not too happy about the postal push to end saturday delivery to cut costs. "...because it has an impact on rural montana. you may not feel it in pittsburgh, in miama, or chicago , or houston or la or any of the big cities, but we don't get mail for 5 or 6 days!" it's possile if congress doesn't act soon, the postal ser
's the finding in a survey of u.s. consumer credit risk by the professional risk managers' international association, which found more consumers are asking for new lines of credit, leading some to believe that americans are willing to take on more debt than during the recession. "it doesn't surprise me. i think a lot of people are past that frugal fatigue and think 'i can afford to take risk again.'" confidence may be part of it, but greg mcbride, sr. financial analyst at bankrate.com, thinks it may be happening out of necesssity. "household income rose only 2.1% last year, and now that's taken away by the 2% raise in the payroll tax. so people are borrowing because of stagnant wages and resorting to credit for necessities." during the next six months, bankers expect more requests for lines of credit and balances to increase. does it mean more americans will put themselves at greater financial risk? not necessarily. "increasing your credit line sometimes can help your credit score by increasing your available credit. but opening new lines of credit can be negative, depending on everythin
not yet. the boards of both american airlines and its expected merger partner, u.s. airways, pushed back planning meetings with no specific date set to sit down. according to reuters and other outlets, those meetings will still likely take place mid- week. final approval of the merger, if it does come to pass, lies with the justice department, which is expected to give its consent. an etf explosion is happening. average investors are pouring billions of dollars into exchange traded funds - those are funds that trade like stock, but instead of one stock are a basket of companies. ed gjertsen of mack investment securities joins us via skype. what's prompting this? > > hi angie. i think it's more than just individual investors. it's also institutional investors that are throwing billions into etfs. it's a remarkably convenient and flexible way to invest in the market. > is this good? what are caveats? > > investors have to really be careful - not only individual investors, but also professionals like myself. there are a couple of tax implications that might be hidden within the etfs that yo
are taking an extended trip and when you are taking a cruise. in fact, the u.s. embassy says if you are taking cruises, always get the travel insurance. > interesting. what are the costs? > > the costs would be dependent on the length, the duration of your trip, the cost of your trip, where you are going. but more importantly, it depends on your age, and how risky the trip is for your age. so if you are 20 years old and you're going through london and you're couch-surfing, your travel insurance is going to be a lot less than if you are 65 and you are going to guatemala to hike. and the older you get, the more expensive it is. > i still feel people might buy this and then something is not covered. so what does it include? > > you could get a really jacked-up medical insurance plan that is going to cost you 200, 300 bucks; or you could get a basic plan that will only cost you, say, $25 or $30. so, you need to look at the policies, you need to see what you have on your own insurance policy - remember, if you are on medicare, you do not have coverage outside of the country - and you ju
Search Results 0 to 17 of about 18